Cantor Fitzgerald Raises Price Target on Medicis (MRX) But Remains Concerned
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Price: $72.77 +4.57%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Cantor Fitzgerald is reiterating its Hold rating on shares of Medicis (NYSE: MRX),but is raising its price target from $34 to $39 on the company.
The company's Q4 results were relatively inline with the Street's expectations, while falling slightly short of the firm's. During the fourth quarter, acne business fell by 14 percent as the aesthetics business grew by 16 percent.
The firm notes the company's plan to promote Ziana and Solodyn to acne-prescribing pediatricians makes sense strategically. Cantor Fitzgerald also highlights the success of Zyclara, which will be re-launched during the first quarter, will be stronger watched by investors.
An analyst at Cantor Fitzgerald comments, "We remain concerned about the continuity of the base business with the looming losses of Vanos, MaxAir autohaler, Ziana, and potentially the Hyperion assets."
The firm raised its FY12 and FY13 EPS estimates from $2.63 and $2.88 to $2.65 and $2.95. Cantor Fitzgerald also tweaked its revenue estimates from $871.4 million and $945.2 million to $860.4 million and $952.5 million.
For an analyst ratings summary and ratings history on Medicis click here. For more ratings news on Medicis click here.
Shares of Medicis closed at $35.72 yesterday.
The company's Q4 results were relatively inline with the Street's expectations, while falling slightly short of the firm's. During the fourth quarter, acne business fell by 14 percent as the aesthetics business grew by 16 percent.
The firm notes the company's plan to promote Ziana and Solodyn to acne-prescribing pediatricians makes sense strategically. Cantor Fitzgerald also highlights the success of Zyclara, which will be re-launched during the first quarter, will be stronger watched by investors.
An analyst at Cantor Fitzgerald comments, "We remain concerned about the continuity of the base business with the looming losses of Vanos, MaxAir autohaler, Ziana, and potentially the Hyperion assets."
The firm raised its FY12 and FY13 EPS estimates from $2.63 and $2.88 to $2.65 and $2.95. Cantor Fitzgerald also tweaked its revenue estimates from $871.4 million and $945.2 million to $860.4 million and $952.5 million.
For an analyst ratings summary and ratings history on Medicis click here. For more ratings news on Medicis click here.
Shares of Medicis closed at $35.72 yesterday.
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